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Deficit Hits $1.4 Trillion, Complicating Stimulus Plans

May 18, 2018
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The deficit is the largest relative to the size of the economy since 1945, underscoring the challenge to shrink the fiscal gap even as the White House considers more steps to stimulate a slow recovery. (New York Times — 17 October, 2009)
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The federal budget deficit soared to a record $1.4 trillion in the fiscal year that ended in September, a chasm of red ink unequaled in the postwar era that threatens to complicate the most ambitious goals of the Obama administration, including plans for fresh spending to create jobs and spur eco… (Washington Post — 18 October, 2009)
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The U.S. must live within its means once its economy recovers if it is to preserve global confidence in the U.S. dollar’s status, Treasury Secretary Timothy Geithner said on Friday. (MSNBC — 19 October, 2009)
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The federal budget deficit has surged to an all-time high of $1.42 trillion as the recession caused tax revenues to plunge while the government was spending massive amounts to stabilize the economy. (MSNBC — 17 October, 2009)
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